Georgianomics: Build or block data centers?
Happy September! Or, for those of y’all whose fiscal years started on Tuesday, Happy New Year!
I’m Mirtha Donastorg, a business reporter here at the AJC, and I am this week’s curator of all things Georgia business.
Highlights include:
⛽️ How to get free gas
🍸 A boozy bankruptcy
🐔 Executives on the move at Rivian, Chick-fil-A
Allez! (To quote legendary Manchester City manager Pep Guardiola. I just watched the club’s docuseries, definitely recommend it.)
1: Moratorium? Or more?
U.S. Sen. Raphael Warnock is calling for a moratorium on new data centers unless certain conditions are met.
On Friday he was in Effingham County, where OpenAI’s recent $20 billion data center deal caught residents off guard. Warnock said the deal was “worked out in the dark, under the cover of night.”
He thinks that moving forward, no data centers should be built unless developers and others can:
- Promise no increase in water and electricity bills for residents 💸
- Reject the use of nondisclosure agreements 🤐
- Prevent pollution, including noise and light 💡
But Gov. Brian Kemp thinks more is better, largely embracing the computing campuses for their economic benefits.
But Kemp’s term is soon up, and in the race to succeed him, Democrat Keisha Lance Bottoms is Team Moratorium. Her rival, Republican Rick Jackson, says he wants guardrails to the projects and said local communities should make their own decisions.
President Donald Trump, weighing in on social media on Monday, said the only reason communities wouldn’t want the facilities is if they wanted “to end up being backwards and poor” and likened data centers to a “Golden Goose.”
Some residents are taking things into their own hands now. Several homeowners near Meta’s massive Newton County data center filed a lawsuit accusing the tech company and others of tainting their water and destroying their rural way of life.
🔍 AJC EXCLUSIVE: Georgia families sue Meta, accuse its data center of tainting their water
Not signed up yet? Why wait? Get Georgianomics in your inbox each Wednesday. And keep scrolling for more news.
2: How to get free gas 🤑
Depending on how you’re feeling, you may want to avoid, or make sure you’re in, Buckhead this morning, because DraftKings is giving away free gas at a BP on Wednesday between 10 a.m. and 2 p.m. (2193 Peachtree Rd. NW to be exact.)
Yes, free gas — in this economy.
What’s the occasion, you might ask? DraftKings, one of the heavyweights in online sports betting and daily fantasy sports, is celebrating the first football season that at least one of the company’s offerings is available nationwide.
In Georgia, sports betting is illegal, but residents can play daily fantasy games and use prediction markets.
Former Bulldogs Nick Chubb and Sony Michel will be in attendance at the event. 🏈
— From Savannah Sicurella
🔍 RELATED: Georgians have paid $1.4 billion extra for gas since Iran war
3: Meet Mirtha Donastorg
Each week, a different member of the team will be the anchor writer of the Georgianomics newsletter. Let’s get to know Mirtha:
Hey y’all! I’ve been on the AJC’s business team since April 2023, covering the region’s Black-, minority- and women-owned businesses, technology, income inequality and workplace issues. Whew. It’s an expansive beat, but one where I get to highlight new voices.
Fun fact: I know rodeo-style barrel racing from my years horseback riding as a teen. 🐎
Next week’s author is Zach Hansen.
4: Closing out Black Business Month
August was National Black Business Month, a celebration to recognize and support Black-owned businesses and entrepreneurs.
Atlanta is known as a Black business mecca, boasting the highest share of Black-owned firms in the U.S.
Those businesses are “in our DNA,” Eloisa Klementich, president and CEO of Invest Atlanta, told me.
But in recent conversations with Black entrepreneurs, I’m hearing things have been harder since the federal push against diversity, equity and inclusion initiatives led many companies to end DEI programs and sometimes shy away from working with Black-owned businesses.
Why might diversity initiatives still be important?
Well, Target rolled back its DEI programs in the wake of Trump’s inauguration.
Then last week, the retailer released a Halloween costume that evoked racist minstrel shows.
“It would surprise me if there was a diverse set of decision-makers in the room when that costume was approved,” Ryan Hamilton, an associate professor at Emory University’s Goizueta Business School, told UATL’s Brooke Leigh Howard.
🔍 Target pulls Halloween costume after critics compare it to blackface minstrelsy
5: Meet the woman leading the Atlanta Fed
Cheryl Venable has spent the last 35 years working for the Federal Reserve, going from a fresh college graduate to now serving as the interim president of the Atlanta Fed since Raphael Bostic’s retirement in February.
Venable sat down with the AJC’s Kelly Yamanouchi and shared career tips, her favorite restaurant for a business lunch and more.
🔍 From 4-H to the Fed: How raising steers led to the central bank for this exec
Check out our event listing on the AJC Her+Story page. Got a local event? Email us at herstory@ajc.com with the info.
6: More top stories
🍸 Boozy bankruptcy: An 128-year-old alcohol distributor based in metro Atlanta recently filed for bankruptcy and will lay off more than 500 Georgia workers.
🛒 Walmart hires: The company announced it will build a new $1.3 billion facility in a small North Georgia town, which will employ 1,000 workers when up and running.
💰 Meta’s legal woes: Georgia will receive close to $100 million from Meta Platforms in a landmark social media addiction lawsuit.
🎥 Tyler Perry’s latest move: His namesake studio has launched a new specialty division for independent filmmakers. (Scroll to the end to explore the latest stat on “independent productions.”)
⚕️ Lawyers on the move: A team of eight healthcare specialist lawyers have left Hall Booth Smith to join regional competitor Parker Poe Adams & Bernstein.
🪑 UPS’ musical chairs: The company is shuffling some leadership roles as it shifts to a new operating model.
7: Moving on and up 🪜
Claire McDonough is stepping down as Rivian’s chief financial officer at the end of October. She’s taking a role as CFO of GE Vernova, a global energy technology firm. Cox Enterprises, owner of the AJC, also has about a 3% stake in Rivian.
Another CFO stepping down, this time at Chick-fil-A. Brent Ragsdale will retire at the end of this year after a 36-year career at the company. Kimberly Johnson will become Chick-fil-A’s new CFO starting Oct. 1.
Ruth Gratzke is the new president of Acuity Brands Lighting, a key division of Atlanta-based lighting and controls manufacturer Acuity Inc.
8: Data drop
Stat of the week: 83%
That’s the year-over-year increase in the number of independent productions (defined as non-studio projects) filmed in Georgia this past fiscal year.
Part of this increase was because of the passage of House Bill 475, which expanded the types of media that can qualify for film tax credits. This includes vertically filmed shows, which are designed to be watched on a phone, and saw a surge in production last year.
Lee Thomas, the former head of the Georgia Film Office, said she’s seeing crew members dusting off scripts.
“Studio production is down,” Thomas said. “So it’s great to see some locally made projects that have popped up as a result of people having the time to work on their own stuff.”
— From Savannah Sicurella
Thanks for reading to the bottom. Help us shape future editions of Georgianomics. Got a tip or a key new hire you want to tout? Email us at businessnews@ajc.com.